Nidec is withdrawing a ¥257 billion ($1.8 billion) unsolicited tender offer for machine tool maker Makino Milling Machine, bowing to strong resistance from its target. Makino had previously ...

Nidec's offer, at 11,000 yen per share, valued Makino Milling at 257 billion yen ($1.78 billion). Makino Milling's shares ended down 0.36% on Thursday at 11,090 yen.

Japanese manufacturer of precision and automotive engines Nidec Corp. I intend to submit an application for the acquisition of Makino Milling Machine Co. This is reported in the Nidec press release.

Makino Milling Machine Co., Ltd. has been navigating a period of uncertainty following a tender offer from Nidec Corporation, which has led to instability among stakeholders.

TOKYO, Dec 27 (Reuters) - Japanese manufacturing giant Nidec (6594.T), opens new tab said on Friday it planned to launch a 257 billion yen ($1.6 billion) bid for Makino Milling Machine (6135.T ...